Backblaze was started up by seven people: CEO Gleb Budman, VP sales Nilay Patel, chief cloud officer Tim. It intends to offer 6,250,000 shares of its Class A common stock to the public at an expected price between 15 and 17 per share. Oppenheimer & Co, William Blair and Raymond James are the lead underwriters on Backblaze’s offering. Analyst Erik Suppiger reiterated a Buy rating on Backblaze today a. Backup and cloud storage provider Backblaze has filed for an IPO and launched its roadshow. If youre wondering just what it is that Backblaze does, this video that we put together for the IPO last year is the perfect introduction. In the cloud storage space, it competes with the likes of Inc’s Amazon Web Services, although Backblaze targets smaller companies.Īccording to a report Impact-of- COVID-19-on-the-Market- by Research and Markets, the global market for cloud computing services is projected to reach a revised size of $937.5 billion by 2027, growing at a compound annual rate of 17% over the seven years since 2020. It has since expanded into cloud storage, with over half a million overall customers across more than 175 countries. is an American cloud storage and data backup company, founded in 2007 by Gleb Budman, Billy Ng, Nilay Patel, Brian Wilson, Tim Nufire. At its IPO price range and 28,545,893 shares expected to be outstanding after.
Backblaze ipo software#
San Mateo, California-based Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies. And it has, namely an S-1/A filing indicating that the company expects to price its IPO between 15 and 17 per share.
Reuters reported in November that Backblaze was seeking to hire investment banks for a 2021 IPO that could value it at around $1 billion. initial public offering ( IPO) on Monday, cashing in on growing demand for cloud computing from businesses expanding their digital offerings during the COVID-19 pandemic. that's maybe not great for customers.īut, at the end of the day, we'll just have to wait and see what happens.– Cloud storage provider Backblaze Inc filed for a U.S. They've been operating at a loss for a while (nothing especially unusual in that), and obviously shareholders means profits take center stage, so. Backblaze CEO Gleb Budman, center, celebrated first day of trading on Nasdaq. That pretty clearly implies they think there's room to increase prices without hurting the business (and I'm sure they're right about that), so that could open the door to price increases.Īnd, obviously, there's no way to know what happens down the road. ('Backblaze'), a leading storage cloud platform, announced the pricing of its initial public offering of. The one thing that COULD be worrying is it's stated that price increases were done twice this year and it didn't materially impact the customer base. In this article: SAN MATEO, Calif., Novem- ( BUSINESS WIRE )-Backblaze, Inc. Often times the best time to buy a newly IPOed. Our employees have a passion for developing powerful, yet easy. (Backblaze), a leading storage cloud platform, announced the pricing of its initial public offering of 6,250,000 shares of its Class A. This year has been a busy one for IPOs and the activity is staying strong right through the end of the year. Backblazes mission is to make storing data astonishingly easy and low-cost. So, it seems like the plan, at least at IPO, is to basically continue the same offerings. SAN MATEO, Calif.- ( BUSINESS WIRE )-Backblaze, Inc. I even did a straight search for the words "reduction" (think "reduction of service" and such), "unlimited" (think "discontinue unlimited" and such) and "increase" (think "price increase" and such), and I found nothing even remotely alarming.įor sure it's entirely possible I missed something, but nothing jumped out at me, and things like that - things which could materially impact the existing customer base - would need to be disclosed in such a filing, and be pretty obvious. The vendor, which was founded in 2007 and is based in San Mateo, Calif., offers personal and business cloud backup. So, it would seem like nothing like that is planned. Backblaze is a provider of online backup services and cloud storage. One bit of good news: in skimming through the filing (which looks to not be finalized), I didn't see any mention of things like reduction of services. Although Backblaze priced its IPO stock at 16, investors showed on the first day of trading that they were willing to pay more than 22 for it.
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